How to compare loan products
When it comes to applying for a loan, whether through a credit union or a traditional financial institution, it’s essential to ensure you’re getting the best deal possible. Most people focus on the interest rate. However, several other factors can significantly impact the overall cost and suitability of a loan. Factors to consider when comparing…
Read MoreDrive lower risk loan applications with soft credit checks
For borrowers who are conscious of their credit scores, soft credit checks offer a practical and appealing solution. This process allows individuals to determine their likelihood of loan approval without negatively impacting their credit score (unlike hard credit checks). This is particularly beneficial for those with variable-rate financial products, such as mortgages, where even a slight…
Read MoreLending trends 2024
Over the past year there has been a shift in lending risk within the credit union sector. In 2023, credit unions in Great Britain approved nearly 6 out of 10 loan applications. However, as of 31 August 2024, this approval rate has dropped, despite applicants credit risk being lower. What are these lending trends telling…
Read MoreProving your identity
All NestEgg lenders are regulated by the Financial Conduct Authority and Prudential Regulation Authority. Due to this, credit unions are required to confirm your identity before you join and take out a loan. When you complete an online application, NestEgg will use information from a Credit Reference Agency to check your identity. In most cases…
Read MoreNew features for 2024
NestEgg has had a very busy 2024 so far. Not only has the launch of our award-winning Broker Platform been a success, but we’ve also been announcing lots of new features for our partner lenders. Here is a roundup of the latest releases. Some have been made available in the last couple of months and a…
Read MoreThe benefits of joining a payroll deduction scheme with a credit union
Managing finances should not be a headache. By joining a payroll deduction scheme with a credit union, a portion of money can be deducted from your salary (after tax) and used for savings or loan repayment. Credit unions are ethical and responsible institutions that promote financial well being and inclusion for their members. Many have…
Read More